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Reading: Public Sector Banks Flag 1,629 Wilful Defaulters
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StockWaves > Financial News > Public Sector Banks Flag 1,629 Wilful Defaulters
Financial News

Public Sector Banks Flag 1,629 Wilful Defaulters

StockWaves By StockWaves Last updated: July 22, 2025 4 Min Read
Public Sector Banks Flag 1,629 Wilful Defaulters
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July 22, 2025July 22, 2025



India’s public sector banks have named 1,629 company debtors as wilful defaulters, with unpaid loans totalling Rs 1.62 lakh crore as of thirty first March, 2025, the Finance Ministry informed Parliament on twenty second July.

Responding within the Rajya Sabha, Minister of State for Finance Pankaj Chaudhary cited information from the Central Repository of Info on Massive Credit (CRILC). He acknowledged that the checklist of defaulters—excluding international debtors—is up to date each month and is obtainable on the web sites of credit score data corporations, comparable to CIBIL, Experian, Equifax, and CRIF Excessive Mark.

To sort out wilful default and assist get well unhealthy loans, the federal government has carried out a number of measures. These embody:

  • A one-year bar on recent loans even after a defaulter is faraway from the checklist
  • A five-year ban on beginning new companies or elevating cash from the markets
  • Ineligibility for mortgage restructuring until sure guidelines are adopted
  • Chance of prison costs underneath RBI tips

Wilful defaulters are additionally lined underneath the Fugitive Financial Offenders Act, 2018, which permits authorities to grab their properties and block them from pursuing civil instances in Indian courts.

The federal government added that steps are being taken in opposition to high-profile defaulters who’ve fled overseas. In keeping with the Enforcement Directorate, 9 people have been declared Fugitive Financial Offenders. Property value Rs 15,298 crore have been seized underneath the PMLA and Rs 750 crore underneath the FEO Act.

To this point, round Rs 25,806 crore has been returned to affected banks and rightful claimants in financial institution fraud instances.

Whereas international department defaulters are topic to native legal guidelines, banks should nonetheless report such instances to Indian credit score bureaus wherever potential.

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